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DB Summit 2010- Omni Hotel, Montreal
Theme: On the Road to Change
The current form of the defined benefit pension plan continues to evolve. With pension reform discussions continuing to raise concerns with plan sponsors, many are still facing significant increases in cash contribution requirements and pension expense. Over the last year, plan sponsors have attempted to aligning their assets with future liabilities and subsequently de-risking their portfolios. But does one size fit all? What direction will the DB landscape take moving forward?
Wednesday October 20, 2010
7:30 – 8:15 am Registration and Breakfast (Foyer of Saisons A)
8:15 – 8:30 am Opening Remarks (Saisons A)
8:30 – 9:00 am Session One (Saisons A)
Volatility2 – Dynamic Risk Management Strategies
This session will talk about dynamic risk management strategies, more specifically on the need to separate risk management from asset allocation and on the advantages of using volatility targeting to minimize tail-risks
Presenter:
Nicolas Papageorgiou, director, quantitative research, Brockhouse Cooper and
associate professor, department of finance, HEC Montreal
[DOWNLOAD THE PRESENTATION]
9:00 – 9:30 am Session Two (Saisons A)
A Brave New World
Given the significant changes to the securities lending landscape since 2008, plan sponsors have developed a greater appetite for understanding how their programs work. With this, the demands on agent lenders to provide transparency on returns and information on performance metrics have increased as well. What can beneficial owners learn from the ways of the past and how do current markets align with expectations? Has there been a shift in program participation? Has information flow changed as a result of events like Lehman Brothers?
Presenter:
Jeffrey Alexander, director capital markets, CIBC Mellon Global Securities Services Company
[DOWNLOAD THE PRESENTATION]
9:30 – 10:00 am Session Three (Saisons A)
Economic Outlook: From Liquidate Everything to Whatever it Takes
Robert will provide an assessment of the global macroeconomic back-drop as 2010 winds down and provide some insights relating to the direction of capital markets as we look forward to 2011 and beyond.
Presenter:
Robert Spector, vice-president and chief economist, McLean Budden
[DOWNLOAD THE PRESENTATION]
10:00 – 10:15 am Networking Break (Foyer of Saisons A)
10:15 – 10:45 am Session Four (Saisons A)
Managing Risk Through Liability Driven Investing
The drop in funding ratios has made pension plans all too aware of the need to match their assets and liabilities and to manage risk more effectively. How can liability driven investing help pension plans to scale back their risk exposures? To what extent are plans adopting LDI approaches today, and what are the trends for the future? Finally, what are the steps to follow when implementing such strategies?
Presenter:
Emmanuel Matte, vice-president, Standard Life Investments
[DOWNLOAD THE PRESENTATION]
10:45 – 11:15 am Session Five (Saisons A)
Government Plans and Their Role in Retirement Savings – What Would a CPP-2 Look Like?
Some industry experts have suggested that the solution to ensuring adequate retirement savings for Canadians is to create a new government plan that would lift some of the cost burden from the private sector. What would a “CPP 2” look like? What are the possible benefits and pitfalls of such an approach?
Presenter:
Michel St-Germain, partner, Mercer
[DOWNLOAD THE PRESENTATION]
11:15 – 11:45 am Session Six (Saisons A)
Passive But Not Naïve
In the past, only one way to passively invest was widely used: market cap indexing. As investors realize market cap indexing might not be so optimal after all, new ways to passively invest are emerging. Such strategies include; fundamental indexing, equally weighting and low volatility portfolios. These "passive" strategies offer characteristics that make them more interesting than the traditional market cap indexing. This session will explain the pros and cons of using these strategies in a DB pension plan framework.
Presenter:
Mario Lavallée, senior vice-president, Aon Consulting
11:45 am – 1:00 pm Lunch and Conference Concludes (Saisons B)
For more information, contact Laurie Asuncion Editor, Conferences and Online Events
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